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Lloyds TSB sends more back office functions to India

Lloyds TSB sends more back office functions to India

(19 April 2006 – UK/India) UK Big Four bank Lloyds TSB has inked a five year deal with IT services firm Xansa to outsource its finance and accounting functions. UK owned but India based Xansa will provide the bank with fixed asset accounting, accounts payable and employee expenses services.

The deal means Lloyds TSB is sending more of its operations to India as Xansa already provides back office services for the bank.

Xansa said it expects to process more than 330,000 invoices and 144,000 expenses for Lloyds TSB every month.

Lloyds TSB and Xansa would not say how much the five year contract was worth.
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